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Stock Market & Financial Investment News

News For GE;MET;UNB;C From The Last 14 Days
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April 17, 2014
16:45 EDTCMarket swings to gains in holiday-shortened week
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12:53 EDTGEOn The Fly: Midday Wrap
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09:07 EDTGEGE Capital says sees Q2 run rate of about $1.8B of earnings
09:05 EDTGEGeneral Electric says saw some improvement in credit demand in Q1
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08:17 EDTGEGeneral Electric says focusing on bolt-on acquisitions
Says on track to reduce share count in 2014 and planning for 9-9.5B by 2015. Says continuing to grow dividends in line with earnings. Says M&A focused on building out core: Focusing on bolt-on acquisitions, active on divestiture front, go above $1B-$4B range only for "exceptional" value and immediate accretion. Says oil and gas industry fundamentals remain strong. Says U.S. short-cycle markets strengthened in March, appears that weather impact a "one-time" event. Says had a few "rough spots" in Q1: U.S. Healthcare and Transportation/mining. Comments from slides that will be presented on the Q1 earnings conference call.
06:35 EDTGEGeneral Electric on track to achieve goal of $1B in structural cost-out for year
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06:35 EDTGEGeneral Electric reports Q1 GE Capital revenue $10.52B
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06:32 EDTGEGeneral Electric reports Q1 adjusted EPS 33c, consensus 32c
Reports Q1 revenue $34.18B, consensus $34.36B
06:31 EDTCBig banks boosting their business lending, WSJ reports
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06:17 EDTCCitigroup may have received mixed signals from Federal Reserve, WSJ says
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April 16, 2014
16:00 EDTCOptions Update; April 16, 2014
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15:26 EDTUNBUnion Bankshares reports Q1 EPS 40c vs. 39c a year ago
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15:17 EDTGENotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include General Electric (GE), consensus 32c; Philip Morris (PM), consensus $1.16; Schlumberger (SLB), consensus $1.20; PepsiCo (PEP), consensus 75c; Union Pacific (UNP), consensus $2.37; UnitedHealth (UNH), consensus $1.09; Honeywell (HON), consensus $1.26; Goldman Sachs (GS), consensus $3.44; du Pont (DD), consensus $1.59; Morgan Stanley (MS), consensus 60c; Danaher (DHR), consensus 80c; BlackRock (BLK), consensus $4.14; Blackstone (BX), consensus 55c; Chipotle Mexican Grill (CMG), consensus $2.86; Mattel (MAT), consensus 9c; Snap-on (SNA), consensus $1.54; AutoNation (AN), consensus 74c.
14:13 EDTGEGeneral Electric April 26 straddle priced for 2.5% move into Q1
12:22 EDTGEEarnings Preview: Analyst sentiment mixed ahead of GE's Q1 report
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09:03 EDTGEGE Digital Energy providing series compensation capabilities for Scottish Power
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07:13 EDTGEGeneral Electric April volatility elevated into Q1 and revenue outlook
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April 15, 2014
16:00 EDTCOptions Update; April 15, 2014
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14:20 EDTCCitigroup reports March credit loss 2.3% vs. 2.02% last month
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10:18 EDTGEGE Healthcare completes acquisition of CHCA Computer Systems
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10:01 EDTGEGeneral Electric says Dan Janki to lead GE's Treasury operations
GE Chairman and CEO Jeff Immelt announced the appointment of Dan Janki to lead GEís Treasury operations, succeeding Kathy Cassidy, who is retiring later this year after 35 years of service to GE. Mark Begor, who currently leads GE Capitalís Real Estate business, will succeed Janki as president & CEO of GE Energy Management. Alec Burger, currently the North America leader for GE Capital Real Estate, will succeed Mark Begor as president & CEO of GE Capital Real Estate. The CEO appointments are effective immediately and the formal Treasury transition will be effective by the end of April.
10:00 EDTCOn The Fly: Analyst Upgrade Summary
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09:35 EDTCActive equity options trading on open
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08:07 EDTCCitigroup needs more progress to move higher, says Sterne Agee
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06:04 EDTGEGE CEO may give up leadership earlier than 20-year tenure, WSJ says
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05:50 EDTCCitigroup upgraded to Outperform from Market Perform at Bernstein
Bernstein upgraded Citigroup to Outperform following the bank's better than expected Q1 results and raised its price target for the stock to $57 from $52.
April 14, 2014
16:24 EDTCOn The Fly: Closing Wrap
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16:00 EDTCOptions Update; April 14, 2014
iPath S&P 500 VIX Short-Term Futures down 32c to 44.41. Option volume leaders: AAPL C GILD TSLA LNG NQ BAC ZNGA according to Track Data.
12:26 EDTCOn The Fly: Midday Wrap
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11:59 EDTCStocks with call strike movement; C MA
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11:54 EDTGEGE reports Omnyx gets FDA clearance for digital manual read of HER2 slides
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11:16 EDTCCitigroup says one employee terminated related to fraud found in Mexico
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11:09 EDTCCitigroup says committed to improving capital planning process
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10:39 EDTCCitigroup sees lowering consumer banking headcount below 145K by end year
The company noted its headcount in consumer banking stood at 149K in Q1 and it sees the headcount to be cut to below 145K by Q4 of this fiscal year. The company sees cutting its consumer banking card products to under 440 by Q4 and lowering its branch count to under 3,525 in Q4 from 3,601 in Q1. Information from slides for earnings conference call.
10:02 EDTCOn The Fly: Analyst Upgrade Summary
Acorda Therapeutics (ACOR) upgraded to Outperform from Market Perform at FBR Capital... Allegheny Technologies (ATI) upgraded to Neutral from Underperform at Sterne Agee... BP (BP) upgraded to Buy from Hold at Canaccord... Bloomin' Brands (BLMN) upgraded to Buy from Hold at Deutsche Bank... Boardwalk Pipeline (BWP) upgraded to Neutral from Underperform at BofA/Merrill... Boston Scientific (BSX) upgraded at BofA/Merrill... Charles Schwab (SCHW) upgraded to Buy from Neutral at UBS... Citigroup (C) upgraded to Hold from Sell at Rafferty Capital... Community Health (CYH) upgraded to Outperform from Perform at Oppenheimer... Eaton Vance (EV) upgraded to Neutral from Sell at Citigroup... Eli Lilly (LLY) upgraded to Hold from Underperform at Jefferies... F5 Networks (FFIV) upgraded to Buy from Hold at Stifel... HeartWare (HTWR) upgraded to Buy from Neutral at BTIG... Heartland Payment (HPY) upgraded to Hold from Sell at Stifel... Hyatt Hotels (H) upgraded to Outperform from Market Perform at FBR Capital... MasterCard (MA) upgraded to Outperform from Neutral at RW Baird... McDermott (MDR) upgraded to Neutral from Underweight at HSBC... Palo Alto (PANW) upgraded to Overweight at Stephens... PetroChina (PTR) upgraded to Neutral from Underperform at Credit Suisse... Seagate (STX) upgraded to Buy from Hold at Argus... Sensata (ST) upgraded to Buy from Neutral at Citigroup... Stryker (SYK) upgraded to Neutral from Reduce at SunTrust... TD Ameritrade (AMTD) upgraded to Buy from Neutral at UBS... TTM Technologies (TTMI) upgraded to Buy from Hold at Stifel... Transocean (RIG) upgraded to Hold from Sell at Deutsche Bank... VMware (VMW) upgraded to Outperform from Underperform at CLSA... Visa (V) upgraded to Outperform from Neutral at RW Baird... Yahoo (YHOO) upgraded to Buy from Neutral at SunTrust... Zimmer (ZMH) upgraded to Neutral from Reduce at SunTrust... bebe stores (BEBE) upgraded to Buy from Neutral at Janney Capital.
09:38 EDTCCitigroup rallies after results, levels to watch
Shares are up over 4.1% at time of writing to $47.59 following better than expected earnings. At that price next resistance is at $48.36, a pivot high. Support is at $47.12. Rafferty Capital upgraded the stock to Hold from Sell.
09:36 EDTCActive equity options trading on open
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08:59 EDTCOn The Fly: Pre-market Movers
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08:48 EDTCCitigroup upgraded to Hold from Sell at Rafferty Capital
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08:10 EDTCCitigroup shares up 3% in pre-market trading after Q1 report
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08:09 EDTCCitigroup reports Q1 net interest margin rose to 2.9%
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08:05 EDTCCitigroup reports Q1 loan loss reserve release of $673M
Reports Q1 net credit losses of $2.4B, down 15% versus prior year period. CVA/DVA was $7M, or $4M after-tax, in the first quarter, compared to negative $319M, or negative $198M after-tax, in the prior year period. Q1 included a $210M tax charge related to corporate tax reforms enacted in two states. These reforms lowered marginal tax rates, resulting in a reduction in Citigroupís state deferred tax assets. CEO Michael Corbat said, ďDespite a quarter that was difficult for our company, we delivered strong results. Both our consumer and institutional businesses performed well and we grew both loans and deposits while holding the line on our expenses. We reduced our deferred tax assets more than any other quarter since the crisis and drove Citi Holdings closer to break even. $4B in net income helped generate $6B in regulatory capital during the quarter and increased our estimated Tier 1 Common ratio to 10.4% on a Basel III basis. Very cognizant of our shareholders desire to see a sustainable return of capital, we are engaged with the Fed to better understand their expectations regarding the CCAR process. We are committed to bringing our capital planning process to the highest possible standards, befitting an institution of our global reach. I will dedicate whatever resources and make whatever changes necessary to achieve this critical goal."
08:02 EDTCCitigroup reports estimates Basel III Tier 1 common ratio of 10.4%
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08:00 EDTCCitigroup reports Q1 EPS ex CVA/DVA $1.30, consensus $1.14
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06:59 EDTCCitigroup says client information leaked at Korean credit units, Bloomberg says
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April 13, 2014
19:07 EDTCCitigroup to eliminate another 200 to 300 jobs, WSJ says
Citigroup has eliminated another 200 to 300 jobs including Steve Prince, the younger brother of former CEO Charles Prince, says the Wall Street Journal. According to the Wall Street Journal report, a Citigroup spokeswoman said the bank is continuing to "tightly manage expenses, making targeted head count reductions in light of current market conditions." Reference Link
April 11, 2014
15:20 EDTCNotable companies reporting before Monday's open
Notable companies reporting before Monday's open, with earnings consensus, include Citigroup (C), consensus $1.14, and M&T Bank (MTB), consensus $1.61.
10:25 EDTCCitigroup to host conference call
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09:37 EDTCActive equity options trading on open
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07:37 EDTCGoldman, Morgan, Citi probed by FINRA over bond deals, WSJ says
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07:09 EDTCLi & Fung collaborates with Citigroup on brand unit spinoff, Bloomberg says
Li & Fung (LFUGF)) is said to be collaborating with Citigroup (C) to spin off its brands division, which is valued at nearly $2B, according to Bloomberg, citing people with knowledge of the matter. The company's brand unit sells clothing and toys to retailers such as Wal-Mart (WMT) and Kohl's (KSS). Reference Link
07:03 EDTCCitigroup volatility increases into Q1and capital outlook
Citigroup April call option implied volatility is at 43, May is at 27, June is at 25; compared to its 26-week average of 25 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 14.
06:20 EDTCCitigroup unit in California facing DOJ probe, WSJ reports
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April 10, 2014
16:00 EDTCOptions Update; April 10, 2014
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09:37 EDTCActive equity options trading on open
Active equity options trading on open according to Track Data: SIRI RAD AAPL AMZN AA FB TSLA MRK CVX C
09:03 EDTGEGE to provide grid modernization solutions to Furnas
GEís Digital Energy business is providing Furnas and Triangulo Mineiro Transmissora/Geoenergia with the latest in protection and control equipment to ensure performance and quality for each of the utilityís grid modernization projects. Furnas is one of the biggest utilities in Latin America and is responsible for power transmission in south, southeast and mid west Brazil. These projects, which support the modernization of Brazilís grid, mark GEís entry into Brazilís ANEEL transmission auctions. The auctions were won in December 2013 by TMT, a collaborative utility composed of Furnas and FIP Milao, with Furnas being the largest participant at 49%.
06:35 EDTCMobile banking presents opportunity and risks for banks, WSJ reports
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April 9, 2014
09:10 EDTGEWal-Mart to purcahse energy-efficient LED ceiling lighting fixtures from GE
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07:18 EDTCLevy Economics Institute to hold a conference
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06:35 EDTCRegulators increase leverage ratio requirement for large banks, NY Times says
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06:27 EDTCBig banks must add capital to comply with new rules, WSJ reports
A of January 1, 2018, the U.S.'s eight largest banks -- including Citigroup (C), JPMorgan (JPM) and Goldman Sachs (GS) -- must add up to $68B in extra capital to comply with a new rule intended to help firms weather losses during periods of market stress, the Wall Street Journal. The banks will be required to maintain well above the minimum levels of capital held against assets on their books. Banks must report the new levels next year. Reference Link
06:18 EDTCEgan-Jones, Glass Lewis oppose Citigroup's pay proposal, WSJ reports
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April 8, 2014
16:01 EDTCApple Netflix Citigroup Tesla Banco Santander Alcoa
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09:35 EDTCActive equity options trading on open
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09:07 EDTGEGE Healthcare receives FDA clearance of its Q.Clear technology
GE Healthcare, a unit of General Electric, announced that it received U.S. FDA 510 clearance of its Q.Clear technology -- technology that can provide up to two times improvement in both quantitative accuracy and image quality in PET/CT imaging. This is an innovative new tool for clinicians across the entire care continuum including diagnosis, staging, treatment planning, and treatment assessment.
08:03 EDTGEGE unit provides $50M loan for Illinois power plant
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07:24 EDTGEPR News to hold a conference
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06:41 EDTCCitigroup plans to close one third of Korea branches, Reuters says
Citigroup announced that it is planning to close nearly one third of its Korea branches, which makes it the third global bank to reduce its presence in the country in the last year due to increasing expenses and intense competition, according to Reuters, citing a statement from the bank. Reference Link
06:24 EDTCCitigroup may miss return-on-tangible-common-equity goal, WSJ reports
According to sources, Citigroup may miss a its 2015 target for return-on-tangible-common-equity after the Federal Reserve last month rejected the bank's capital plan, the Wall Street Journal reports. The Fed denied Citigroup's proposal to boost its dividend and increase stock buybacks on March 26, making it unlikely Citigroup can meet this key profitability target. Reference Link
April 7, 2014
19:57 EDTCFederal Reserve announces extension on some CLOs
The Federal Reserve Board announced that it intends to exercise its authority to give banking entities two additional one-year extensions to conform their ownership interests in and sponsorship of certain collateralized loan obligations, or CLOs, covered by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly referred to as the Volcker rule. Section 619 of the Dodd-Frank Act directed the board to adopt rules for the conformance period and the board previously extended the conformance period for all activities and investments by one year to July 21, 2015. To ensure effective compliance, the board intends to grant banking entities two additional one-year extensions, which together would extend until July 21, 2017, to conform their ownership interests in and sponsorship of CLOs to the statute. Publicly traded companies that may be impacted by the announcement include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
17:16 EDTCCitigroup to resolve certain private-label securitization repurchase claims
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16:01 EDTCOptions Update; April 7, 2014
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10:00 EDTCOn The Fly: Analyst Upgrade Summary
Agios Pharmaceuticals (AGIO) upgraded to Overweight from Neutral at JPMorgan... Alcoa (AA) upgraded to Hold from Sell at Deutsche Bank... Align Technology (ALGN) upgraded to Outperform from Market Perform at Barrington... Analog Devices (ADI) upgraded to Neutral from Sell at Goldman... B&G Foods (BGS) upgraded to Outperform from Sector Perform at RBC Capital... Citigroup (C) upgraded to Neutral from Underweight at HSBC... Intel (INTC) upgraded to Outperform from Sector Perform at Pacific Crest... JetBlue (JBLU) upgraded to Neutral from Sell at Goldman... Kindred Healthcare (KND) upgraded to Outperform from Sector Perform at RBC Capital... Lennox (LII) upgraded to Outperform from Market Perform at Wells Fargo... Newmont Mining (NEM) upgraded to Hold from Sell at Deutsche Bank... PBF Energy (PBF) upgraded to Buy from Neutral at Citigroup... Renasant (RNST) upgraded to Outperform from Market Perform at Raymond James... Select Medical (SEM) upgraded to Outperform from Sector Perform at RBC Capital... Ultra Petroleum (UPL) upgraded to Outperform from Market Perform at Raymond James... Under Armour (UA) upgraded to Buy from Neutral at Sterne Agee... Hercules Technology (HTGC) upgraded to Buy from Hold at Sandler ONeill... Standard Pacific (SPF) upgraded to Outperform from Market Perform at Raymond James... Yelp (YELP) upgraded to Outperform from Perform at Oppenheimer... Netflix (NFLX) upgraded to Outperform from Perform at Oppenheimer... Pandora (P) upgraded to Outperform from Neutral at Wedbush.
07:39 EDTGEBloomberg to hold a summit
The Future of Energy Summit 2014 is being held in New York on April 7-9.
06:58 EDTCDark markets could cause more harm than high-frequency trading, Reuters says
After a book by financial author Michael Lewis sparked worries that high-speed traders have been rigging the U.S. stock market, former regulators and academics say a more serious threat to investors could be the increasing amount of trading that happens outside of exchanges, reported Reuters. Top internalizers include units of KCG Holdings (KCG), Citadel, UBS (UBS), and Citigroup (C). Dark pool operators include Credit Suisse (CS) and Morgan Stanley (MS). In an attempt to earn back some of the retail orders, exchanges such as IntercontinentalExchange Group's (ICE) New York Stock Exchange, Nasdaq (NDAQ), and BATS Global Markets, have allowed brokerages to place dark pool-style orders on their platforms, with the trade hidden until after it is executed. Reference Link
06:05 EDTCCitigroup upgraded to Neutral from Underweight at HSBC
HSBC upgraded Citigroup to Neutral citing the recent underperformance of shares. The firm raised its price target for the stock to $51 from $48.
April 4, 2014
16:00 EDTCOptions Update; April 4, 2014
iPath S&P 500 VIX Short-Term Futures up 89c to 41.88. Option volume leaders: AAPL C P NFLX LNG BAC INTC TSLA TWTR according to Track Data.
08:02 EDTGESam's Club extends contract for branded credit card program with GE Capital
Samís Club, a division of Wal-Mart Stores (WMT), has finalized a multi-year agreement with GE Capital Retail Bank (GE) to extend their existing relationship to provide Samís Club-branded credit cards to club members in the U.S. and Puerto Rico. As part of the extension, GE Capitalís Retail Finance business will continue to manage and service the credit card programs for Samís Club Savings, Business and Plus members. Under the agreement, the Samís Club co-branded credit card programs will be converted to MasterCard (MA) later this year. Walmart has also extended their relationship with GE Capital Retail Bank and branded cards will transition to MasterCard later this year.
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